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Closing Gold & Silver Market Report – 7/14/2014


The Gold price is set to realize its largest single-session decline of the year as Portuguese banking worries subsided and a rally among stocks influenced a round of profit-taking for Gold and Silver.  “A strong stock market and some stability in the EU [are pressuring gold,]” Peter Thomas, a senior vice president at Zaner Group LLC in Chicago, said.  Today’s drop is not cause for concern among many investors as hedge funds continue to increase their positions and holdings for exchange-traded products. Traders and investors will continue to monitor Federal Reserve monetary policy along with macroeconomic news and geopolitical developments abroad for signs of market movement in the coming weeks and months.  

U.S. stocks are rebounding from their largest loss in three months as uplifting earnings data assisted in boosting markets.  “The market has more room to run. It’s going to be interesting to watch the amount of strength that it carries day to day,” Robert Pavlik, chief market strategist at Banyan Partners LLC, said.  However, some analysts are concerned that the rally among equities over the last year-and-a-half could be reaching the point of retreat.  A stock market correction could cause Precious Metals prices to soar. 

At 5 p.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,309.00, Down $29.40.
  • Silver, $20.98, Down $0.48.
  • Platinum, $1,498.90, Down $15.90.
  • Palladium, $872.80, Down $3.50.
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Our spot prices are subject to change during the following hours, excluding holidays. View current spot prices for Gold, Silver, Platinum and Palladium on our Spot Price Charts page.

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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies.


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